PNJ’s Q1 profit increased by over 26%

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PNJ’s first quarter sales reached the highest level in business history. PNJ achieved 43% of the profit target after the first quarter of the year.

At the AGM meeting on April 17, Mr. Le Tri Thong, General Director of Phu Nhuan Jewelry Joint Stock Company (HoSE: PNJ) said that the total revenue in the first quarter was about VND 7,217 billion, up 43 % over the same period in 2020 and increase 30% over the same period in 2019.

During the quarter, the company continuously broke the sales record on Than Tai day and March 8 and recorded at the highest level in the history of operation, PNJ leaders revealed. Accordingly, after-tax profit is about 514 billion, up 26-27% over the same period last year.

The business plans to achieve net revenue in 2021 to reach 21,006 billion, up 20%; profit after tax is 1,230 billion dong, up by 15%. Thus, after the first quarter of the year, PNJ has implemented 34% of the revenue plan and 43% of the profit after tax plan.

Assessing the retail jewelry market in 2021, PNJ CEO said that the context was “warmer” for the same period of 2020, the road was cleared of snow but still “wet” with the curves. Therefore, PNJ plans to speed up in appropriate segments and always prepares a plan to cope with risks.

Source: ndh.vn – Translated by fintel.vn